Genesco: Fiscal 2Q Earnings Snapshot
Sep. 07, 2018
NASHVILLE, Tenn. (AP) _ Genesco Inc. (GCO) on Friday reported a loss of $15,000 in its fiscal second quarter.
On a per-share basis, the Nashville, Tennessee-based company said it had a loss of less than 1 cent. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 4 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The seller of footwear, hats, clothing and accessories posted revenue of $653.9 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $632.7 million.
Genesco expects full-year earnings in the range of $3.05 to $3.45 per share.
Genesco shares have risen 45 percent since the beginning of the year. The stock has climbed 93 percent in the last 12 months.